KRN Heat Exchanger and Refrigeration IPO subscribed 14.45 times on Day 1

25 Sep 2024 , 02:24 PM

The initial public offering (IPO) of KRN Heat Exchanger and Refrigeration received a tremendous reaction from investors during the first hour of the bidding procedure on day one. The issue, which went live for bidding on Wednesday, September 25, was largely purchased by retail and NII investors. The issue was fully subscribed in 12 minutes.

KRN Heat Exchanger, situated in Rajasthan, is selling its shares for between Rs 209 and Rs 220 each. Investors can apply for a minimum of 65 shares and multiples thereof. It intends to raise Rs 341.95 crore through an initial public offering (IPO), which will include wholly of 1,55,43,000 equity shares.

As of 14:18 p.m. the NII portion was subscribed the most at 29.67 times followed by retail portion which was subscribed 15.48 times. The QIB portion was subscribed 94%.

KRN Heat Exchanger and Refrigeration manufactures fin and tube-type heat exchangers, including copper and aluminium fins, copper tubes, heat exchangers, water coils, condenser coils, and evaporator coils. All of the items available are used in home, commercial, and industrial heating, ventilation, air conditioning, and refrigeration applications.

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